To foreign trade of Japan as this of China, agreement ports, 'from which nineteen are allow to be

To foreign trade of Japan as this of China, agreement ports, 'from which nineteen are allow to be continued only in the certain ports named', the head who is Yokohama, Osaka, Nagasaki, Hakodate, Niigata, and . Two basic cities, not agreement ports, are Tokio and Kioto. Tokio (1 300 000) is the capital and the main centre political, commercial, and literary activity of empire. In many respects Tokio - a 'modern' city. Its educational features are excellent. Its clearing also is good. Kioto (340 000) was before the capital, but after revolution 1868, it has been replaced in this respect Tokio. Yokohama (170 000), kept away from eighteen miles Tokio, is the main place of empire for foreign trade. Its foreign trade, really, is more than that half from the whole empire, being approximately 75 000 000$ annually. Osaka (487 000) concerning the population, the second city of empire, but its foreign trade is not big and is continued mainly in Hiogo, port about it. Niigata (50 000) is unique port of the agreement on a West side of Japan, a surf caused by a winter monsoon, doing flat western coast of the country very dangerous to shipment during half of year. Other important ports - (161 000) and Nagasaki (72 000). Nagoya (215 000) is the important internal city.
[157]
IX. TRADING FEATURES OF AFRICA
AFRICA FIFTEEN YEARS AGO

Checks should be numbered, so that everyone could be made

Checks should be numbered, so that everyone could be made. Numbers for your convenience instead of to convenience of bank. It is important, that your check-book is correctly kept, so that you could tell at any time, how many money you have in bank. [245] in the end of each month yours
The small bankbook needs to be left in bank so that the bookkeeper could counterbalance it. It can happen, that your bankbook will show balance than your check-book. You will understand it if both have been correctly kept, that there are outstanding checks which have not been presented yet in your bank of payment. You can learn, which they, checking the paid checks which have been returned to you with your bankbook. Unpaied cheques so that your actual balance was that is shown by your check-book at any time can be presented. Checks should be presented for payment as soon after date as far as possible.
THE CERTIFIED CHECKS
The bank account.

When the note is presented for payment to a maturity and not paid, to it usually object; that is,

When the note is presented for payment to a maturity and not paid, to it usually object; that is, the public of the notary does the formal statement, that the note has been presented for payment, and to payment have given up. The notice on such protest send to the manufacturer of the note and to everyone indorser.

Though India - now basically the agricultural country, its people were from time immemorial experts

Though India - now basically the agricultural country, its people were from time immemorial experts on manufacture. Internal textile manufacturing and internal metal manufacturing of India were the whole eternity among the most beautiful and are inventive in the world. These internal manufacturing are mainly pursued in small villages from which is more than a half-million in India. But under influences of the modern civilisation entered by the British rule, the domestic industries of the country concede now to factory industries. They already became well established, and quickly increase in number and importance. Stability of India as the nation so is well assured now, that the capital can be available there so cheaply as in England or the United States. Besides, the joint or joint-stock enterprises are extended. The Indian people, with their natural ability to intertwine, do best of textile employees, and India has chances soon to become the huge competitor of the Western nations in textile . In twenty years cotton spindles have increased the sixfold. In ten years cotton production has increased the double. Bombay became one of the greatest cotton centres in the world, some kind of Liverpool and incorporated Manchester. It has actually closed doors of India to the English made claps of cheaper grades. The made clap of Bombay even send to England in large quantities, but the basic export to China. Full export Indian manufac [136] tured a clap
$23,000,000. Other important modern manufacturing - jute manufacturing. Jute factories of Bengal compete now to that of Scotland, and full export makes 17 500 000$. Similar development is expected in iron as already iron fusion has begun. But, despite these events, India still remains the huge market for the goods of an industrial function of England, especially in claps and hardware and cars. Value of annual cotton import makes of England 100 000 000$, equal to total of export of England of the goods of each kind to the United States. Value of annual import of hardware and cars makes of England 35 000 000$.
EXTERNAL AND DOMESTIC TRADE OF INDIA

Business of transportation of the United States is so distinguished and combined, that appropriate

Business of transportation of the United States is so distinguished and combined, that appropriate research of its freight rates and classifications would demand much more a place, than the subject in these lessons can be given.
XVIII. TRANSPORTATION PAPERS

[6] Part of export of the grains made to Hongkong, undoubtedly is intended for consumption in China

[6] Part of export of the grains made to Hongkong, undoubtedly is intended for consumption in China and Japan.
[205]
OUR EXPORT OF CONDITIONS AND ANIMALS
Basic articles of internal export of the United States. [7]
FOOTNOTE:

Fishery of Gulf С-Lawrence and the small waters adjoining on Nova Scotia and Newfoundland, has

Fishery of Gulf -Lawrence and the small waters adjoining on Nova Scotia and Newfoundland, has within many centuries, the most productive in the world. The Canadian fishing interest in these waters is very big. The cod, a mackerel, a haddock, a halibut, a herring, smelts, and a salmon, is the basic fish, and annual 'capture' makes approximately 15 000 000$. Value for approximately 2 500 000$ , trout of a salmon, a herring, pickerel, and a sturgeon is made annually from the Canadian lakes. Annually fishes of a salmon of the rivers and the big sea entrance apertures of British [191] Colombia cause 4 500 000$.
Approximately one half of full product is exported to the Great Britain and the United States.
AGRICULTURAL PRODUCTS OF CANADA

But while it is true, that domestic trade of Germany - its most important trade, also it is true,

But while it is true, that domestic trade of Germany - its most important trade, also it is true, that its foreign trade has during last half of the century made more of successes than those from any other European country, and within last three or four decades there is more than advancement than even those from the United States. About 1840 it has increased six and two third time while that from the Great Britain has increased six times, and France only four and [108] times one heel. It is now the second
In the world, being it is more than that half from the Great Britain, before those from the United States, [1] and it is very considerable before that from France while in 1860 it was much less than half of that from the Great Britain, it is less than those from the United States, and it is much less than that from France. Germany, however, well is not approved concerning seaports as in its overseas trade it substantially depends on foreign seaports namely, ports in Belgium, Holland, France, Italy, and Austria. Rotterdam in Holland and Antwerp in Belgium is much more favorably located concerning trade of its head extracting and industrial areas than any of its own ports. There are only two German seaports with water of depth, sufficient to adapt deeply pulling vessels in which foreign trade now mainly bear on - namely, Cuxhaven, the remote port of Hamburg, sixty five miles from Hamburg, and Bremerhaven, the remote port of Bremen, thirty five miles from Bremen though recent improvements of navigation of Elba allow courts even a sketch to rise to Elba completely to Hamburg. But Hamburg (625 000), for the reason, that within many centuries it was ex-port an input, has created very big foreign trade, being the fifth in the world in this respect, London, New York, Liverpool, and Rotterdam, one being before it. Foreign trade of Hamburg - almost one half is more than the whole foreign trade of all other German connected ports, while foreign trade of Bremen - approximately one quarter that from Hamburg. Bremen as Hamburg, was [109] within many centuries ex-port an input, but in 1888 both Hamburg and Bremen surrendered in the big
Divide them ex-port privileges, and has entered into the general customs association of empire. Both cities extremely did not wish to throw their ancient unique commercial privileges as they were afraid of huge loss of trade thus, but hoped, that that they have lost in foreign trade, will be made to them in the increased trade with other parts of empire. One reason for the big development of foreign trade of Germany last years is found in services, that it possesses for high-speed transport to and from Italy by means of tunnels through the Alpes.
Northern central Germany, showing a ship canal and leading commercial arteries.
FOOTNOTE:

To interest of dealers or bankers deal [36] in foreign accounts to buy them where they are the

To interest of dealers or bankers deal [36] in foreign accounts to buy them where they are the cheapest and to sell it where they are the most expensive.
For this reason it could advantage to the New York dealer is frequent to be to buy the account on London, to pay a debt in Paris.
The bill (banker).

One aspect of our foreign trade so well is not understood, how it should be

One aspect of our foreign trade so well is not understood, how it should be. Our foreign trade is continued substantially in foreign courts. The reason - that to any vessel do not allow to be registered as an accessory to the owner of the United States, if it is not constructed in the United States, and consequently it seems, as though our ship builders could not compete (in the price) in a building of a steel and iron courts to that of the Great Britain and Germany. Before, when wooden vessels were used, our foreign trade has been continued in our own courts, and ours 'clipper', crossing under a court sail, has broken the world. In 1859 seventy percent. In value of our foreign trade rushed in the American courts. Since then the proportion has decreased steadily, to in 1896-97 it there were only eleven percent., and for 1897-98 it were even less than it. Within these five years 1881-85 it averaged only twenty percent. Considering the tonnage only the proportion changes now from twenty five to thirty percent., showing, that the American vessels are used to bear cheaper kinds of the goods. The cumulative burden of the tonnage of the courts belonging to the United States, was registered as involved in foreign trade which 1896 was for 792 870 tons. Within the same year aggre [209] collars
The burden of the tonnage of the courts belonging to the Great Britain, occupied in foreign trade, was much more than ten times that quantity. From our export trade to Europe vessels of the United States bear only five and one half of percent., and our export trade to Africa only four and one half of percent. But our export trade to Asia and Ocenia our own vessels bear twenty six and one half of percent., while from our export trade to other countries on the American continent our own vessels bear almost forty percent. But as our Atlantic trade makes seventy six percent. From whole and as our trade in other place than on Atlantic is more than one third which is born by sailing vessels, it is obvious, as substantially to our transport business of ocean of a steamship have allowed to fall in hands of foreigners. The seven tenth parts of our full export trade, and almost two thirds of our full foreign trade, both export and import, bear in the British courts. Following greatest couriers of our foreign trade - first, Germans, then it is direct, then Norwegians then Dutches then Frenchmen then Belgians.
[210]
EXAMINATION WORKS

In any part of the world manufacturing, and trade has proceeded with such strict relation to

In any part of the world manufacturing, and trade has proceeded with such strict relation to conditions of economic manufacture and economic processing of the goods as in British isles. The empire free-trade policy resolves everywhere within its borders not simply national, but the international competition; and still it - only the truth to tell it everywhere where the Great Britain tries to sell to its goods abroad each nation and each community in world increases against it. Even its colonies against it. Its markets are opened for each trade, and still in almost each market in the world which it at all does not operate barriers, lifted against its trade. She in a condition to sell the goods in the foreign markets only because, despite these barriers, she in a condition to sell under the price more low than at all competitors in them, or to give the best value for the same money than they. Even when it receives the control of the new markets as it has in India, China, Egypt, the Western Africa, etc. She allows each nation to trade in these markets on exact the same terms as it trades in them. In the face of this international competition, therefore, industries of the Great Britain would stop to exist, if each condition promoting economy climatic manufacture of suitability, suitability of the cheap driving power, availability to cheap raw materials, and availability on natural and cheap means of transportation [86] - has not been exploited to
The biggest. But it only, that is done by the Great Britain. It really takes advantage to the biggest of the conditions promoting economy of manufacture; and it - why, to a certain extent anywhere has not tried yet in the world, it the industries in certain vicinities of approval.
NATURAL ABILITIES OF COMMUNITIES IN THE GREAT BRITAIN FOR SPECIAL INDUSTRIES

In any part of the world manufacturing, and trade has proceeded with such strict relation to

In any part of the world manufacturing, and trade has proceeded with such strict relation to conditions of economic manufacture and economic processing of the goods as in British isles. The empire free-trade policy resolves everywhere within its borders not simply national, but the international competition; and still it - only the truth to tell it everywhere where the Great Britain tries to sell to its goods abroad each nation and each community in world increases against it. Even its colonies against it. Its markets are opened for each trade, and still in almost each market in the world which it at all does not operate barriers, lifted against its trade. She in a condition to sell the goods in the foreign markets only because, despite these barriers, she in a condition to sell under the price more low than at all competitors in them, or to give the best value for the same money than they. Even when it receives the control of the new markets as it has in India, China, Egypt, the Western Africa, etc. She allows each nation to trade in these markets on exact the same terms as it trades in them. In the face of this international competition, therefore, industries of the Great Britain would stop to exist, if each condition promoting economy climatic manufacture of suitability, suitability of the cheap driving power, availability to cheap raw materials, and availability on natural and cheap means of transportation [86] - has not been exploited to
The biggest. But it only, that is done by the Great Britain. It really takes advantage to the biggest of the conditions promoting economy of manufacture; and it - why, to a certain extent anywhere has not tried yet in the world, it the industries in certain vicinities of approval.
NATURAL ABILITIES OF COMMUNITIES IN THE GREAT BRITAIN FOR SPECIAL INDUSTRIES

Usual tools of the credit by means of which travellers abroad catch up with the deposits of the

Usual tools of the credit by means of which travellers abroad catch up with the deposits of the house, are known as circular letters of the credit. These forms of the credit have such usual use, that all should be familiar with their form. We reproduce here the facsimile of [39] first and second pages a
The circular letter for? 1000, copied from little change of names from the actual tool. The first page shows to the credit the appropriate commission of various correspondents of bank, letting out it to pay to the holder which signature is given on her face, money up to? 1000. Names of banks which are authorised to advance money after the letter, are usually printed on the third and fourth pages though the letters which have been let out by known bank buildings, usually admit any bank building to which they are presented.

Dividends

Dividends. Directors of the company, after payment of expenses and imposing by certain quantity for unforeseen circumstances, divide profit among shareholders. This profit name dividends, and in successful problems such dividends as are declared quarterly, , or annually usually make good interest on investments of shareholders.

Dealers sell very many of their notes in the open market that is, to note brokers

Dealers sell very many of their notes in the open market that is, to note brokers. Banks buy these notes from brokers of the note. The help of the broker which addresses with the bill, is the necessary and valuable help to purchasing bank. Completely three quarters of all paper bought by banks in the big cities, are bought under the simple recommendation of brokers of the note. As a rule these brokers simply transfer a paper, not guaranteeing its payment. The notes bought by banks from brokers of the note without them as it is considered, as, they guarantee, will be as it should be in all points except that which covers a question of, whether will pay it or not. The bank uses the best judgement in risking. If the dealer of the note on sale of notes to bank does to what he trusts to be fair and fair representations concerning any specific paper statements of such direct type, that on them no charge of false excuses can be made to have a rest - it simply guarantees the note, original concerning names, date, quantity, etc., and that on sale of it it transfers the good name to a paper. As business men, however, they are very cautious and extremely worry, that a paper which they sell, should be paid, and as a rule they do good any losses which grow from obvious distortions on their part.
NORMS OF BANKERS FOR LOANS

The commercial project has close similarity to the letter from one person to other requirement that

The commercial project has close similarity to the letter from one person to other requirement that a certain sum of money to be paid to the person who calls, or to bank or firm for which it operates. For example, the project shown on the first illustration, could be formulated something as it: [27]

The check - the order concerning the money, the delayed themes who has funds in bank

The check - the order concerning the money, the delayed themes who has funds in bank. It is subject to payment on demand. Actually, it is the kind project ashore. Banks give checks without a sum designation to their clients, and it is very simple question to fill them properly. In writing in quantity begin in extremely left of a line.

Note

Note. Following questions are established as a sign of a kind of knowledge which the student who has carefully read some newspapers of this course should possess. The paper covers only about first half of course. To the student recommend to write out answers carefully. Only such answers should be undertaken as can be made of research of lessons.
What in a general sense intends, when we speak about country currency?
List some of the advantages given to community and trade in general by banking establishments.
Banker"s check - the order of the requirement concerning the money, the delayed themes who has funds in bank. How the check differs from the order concerning John Smith to pay to the bearer a certain sum of money?
Why it is important, what checks should be very carefully delayed?
(a) The check does not have any date. It does it by emptiness? (b) how about the check it was dated several months ago? (c) the check is dated on Sunday the good? (d) why checks sometimes are dated forward? (e) - you in freedom to print your own form of the check? Whether (f) really it is necessary, what your check is written on the ordered blank form? (g) how you would write the check for 75 cents?
How there would be you a word the check to give to the person [65] who is unknown in your bank but who wishes to pull money on a counter?
You send the check through mails to John Brown, Philadelphia. How you will interfere with that the check has fallen in wrong John"s Brown hands?
You identify A. B. In your bank. Check A. Presented B. There is a fake. Whether it is valid you are responsible?
A. B. Transfers the check to you pure . It - then the check payable to bearer. How you can legally make it subject to payment to your own order?
What intends the power of attorney? How the attorney should confirm checks for the person for which it operates?
If the note gathered, are transferred you and delivery in debt payment, it would have any value to you, whether there was it overdue? Explain completely.
Tell, how you would give the receipt for note payment. Why not the usual separate sufficient receipt?
Why notes, has acted? Why the formal protest is sometimes desirable even thus, what the paper has no ?
If indorser it is compelled to pay the note against whom has its good requirement?
NOTE TO PREVIOUS EXAMINATION WORK

But influence which is more than something else have defined specialisation of industries in

But influence which is more than something else have defined specialisation of industries in certain places in the Great Britain, instead of in others, was presence of coal fields. Only in very few cases have the big industries, supported in areas which are not coal manufacture. The most occupied the industrial centre in all Great Britain - it is possible, Southern Lancashire, the big place of cotton manufacturing. Southern Lancashire - one big coal field. Liverpool, great cotton port of the world, on one edge of this area. Manchester, cotton capital of the world, on other to edge. Between and about these two main cities the whole nest of the big cities and city Preston, Burnley, Blackburn, Rochdale, Bolton to Bury, Ashton, Stockport, Oldham, etc. - each of which is completely devoted cotton interest. From their position all these cities receive both the driving power and the raw materials at the lowest cost. But in addition to its advantages of cheap coal and cheap raw materials Southern Lancashire has one other big advantage in favour of its special industry - its climate extremely approaches for the industry. Its atmosphere is crude, both not too crude, and its temperature is not too cold. The cotton thread can be spun and it is weaved in Lancashire which in other place would break. In hardly any other place in England has a cotton interlacing [88]
Or clap rotation ever proved success. The cotton industry of Scotland so is not localised, as it is in England, but Paisley (65 000) is known all all over the world for its identification with manufacturing of a cotton thread. At Ireland is not present any important cotton except in Belfast. One third of the clap made in the world, is made in the Great Britain. The full product makes approximately 14 000 miles of a fabric daily. Number of separate factories - more than 2500. The annual product makes 500 000 000$ which is hundred times, than it was hundred years ago. Quantity of the crude clap imported annually to sustain this huge manufacture, makes 1 750 000 pounds.
The big industrial areas of England.
[89]
WOOLEN MANUFACTURING OF THE GREAT BRITAIN

Our full export within these twelve months finished on June, 30th 1898, made the unprecedented sum

Our full export within these twelve months finished on June, 30th 1898, made the unprecedented sum almost 1 250 000 000$ (1 231 329 950$). [4] It is quantity almost a quarter on billion dollars more than ever before, unique years when export even has approached this quantity which is 1897 and 1892, when export was a little more than billion dollars in each case. From this export the sum 855 000 000$, or seventy one percent. From whole, there were for agriculture products, the basic points which are (1) 'grains,' [196], including wheat and wheat flour, grain and fodder grain, an oats
And porridge, a rye and a rye flour, 335 000 000$; (2) clap, 231 000 000$; (3) 'conditions,' including beef and oil, bacon and a ham, pork and fat, oleomargarine, both oil and cheese, 166 000 000$; (4) animals, including horned livestock, horses, sheep, and hogs, 47 000 000$; (5) crude tobacco, 23 000 000$; (6) oil pie, 12 500 000$, both (7) fruit and nuts, 9 000 000$. Export of products of our mines made only 1.6 percent. From full export, or hardly 20 000 000$, the basic points which are (1) coal and coke, 12 500 000$; (2) crude oil, 4 000 000$, and (3) copper ore. Export of products of wood made only three percent. From full export, or 38 000 000$, the basic points which are (1) sawn and cut wood, registration, wood, a pebble, and sticks, 28 500 000$, and (2) naval shops, including pitch, pitch, turpentine, and giving, 9 000 000$. Export of products of our fishery made only 4 500 000$, or it is less than one half one percent. From full export. Export of our products , according to official returnings, made 289 000 000$, or twenty four percent. From full export. But this sum included many points which represent the crude natural products transformed simply in a material for the subsequent manufacturing as, for example, a pig - and iron, boards, a unique skin, an ingot - and bar copper, cotton oil, both a pig - and bar zinc. The basic points in the true list '' (1) cars, including cars of processing of metals, steam engines and locomotives, electric cars, swinging cars, sewing-machines, cars of typewriting and printing machines, and railway rails, hardware, and nails, 65 000 000$; (2) cleared oil, 50 000 000$; (3) manufacturings of a clap, 17 000 000$; (4) vegetable oils and essence, 12 000 000$; (5) agricultural tools, 7 000 000$; (6) cycles, 7 000 000$; (7) paper and [197] paper for printers, 5 500 000$; (8) furniture and another
Wood manufacturing, 5 000 000$; (9) tobacco and cigarettes, 5 000 000$; (10) fertilisers, 4 500 000$; (11) boots and boots, a seat belt, and rubber boots, 3 500 000$; (12) telegraph, phone, and other tools, 3 000 000$; (13) bags, a rigging, and a cord, 2 500 000$; (14) books and brochures, 2 500 000$; (15) sugar, a syrup, treacle, a sugar candy, and a confectioner"s shop, 2 000 000$; (16) alcohol, including and whisky, 2 000 000$; both (17) hours and hours, 2 000 000$.
FOOTNOTE:

The second big industry of the Great Britain - the woollen manufacturing

The second big industry of the Great Britain - the woollen manufacturing. This industry in England, mainly in West Yorkshire, area which also is supplied by coal as, is Southern Lancashire. Leeds (410 000) and (232 000) is two basic places of the industry, but Huddersfield and Halifax - also important 'fabric cities,' and many other communities are identified with manufacturing woollens. Noted 'the West of England' fabrics is made mainly in Gloucestershire, where their manufacturing in city Stroud - a survival of the ancient industry once the general everywhere on the whole county. In Scotland there are two centres of the woollen industry. The first and the most important is in southeast Scotland where, in the Tweed valley (in Galashiels, Hawick, Jedburgh, etc.), well-known 'Scottish tweeds' are made. The second is in valley Teith (the Sterling, Bannockburn, etc.) . Once sheep who were pastured on heathlands , were the main delivery of raw materials for this industry in all Great Britain, but that time long passes now. Full annual import of a wool to the Great Britain makes approximately 750 000 pounds from which approximately one half is kept for the domestic industry. Two thirds of this import arrive from [90] Australia. Wool and wool number
Factories in sets of kingdom more than 2750. Value of the woollen goods made annually, makes approximately 250 000 000$ which is approximately one quarter of a full product of the world.
LINEN MANUFACTURING OF THE GREAT BRITAIN

Notes and acceptances which are made in settlement of original business transactions, arrive under

Notes and acceptances which are made in settlement of original business transactions, arrive under a head of the regular, lawful official paper. The note of the arrangement or acceptance - what is signed or confirmed or accepted simply as the arrangement instead of in settlement of the account or in debts payment. With banks the arrangement paper has on advantage a difficult reputation. However, there are all grades and shades of a paper of the arrangement though it does not represent the actual business transaction between the parties to it and has not a rest on any other fund than that of the mutual agreement. No contract is good without consideration, but it only is true between the original parties for the note. The third party, either the innocent receiver or the holder of the note, has the good name and can return its value even thus, that it has been originally given without valuable consideration. The innocent holder of the note which has been originally lost or stolen, has a good name on it if it has received it for value, the law, fairly protecting such holder against an error or negligence of others.
[231]
NOTE BROKERS

Our display of illustrations (1) navigable receipt - half of noted 'original'; (2) waybill of a

Our display of illustrations (1) navigable receipt - half of noted 'original'; (2) waybill of a steamship; (3) local waybill.
[64]
EXAMINATION WORK

The following most important point in our list of export - conditions

The following most important point in our list of export - conditions. But, as 'grains', 'conditions' also - difficult term, including two main divisions, 'meat products' and 'dairy products.' Actually there are three main divisions, 'beef products,' 'products of a hog,' and 'dairy products.' We have in these big products of our country an export trade 165 500 000$ in a year and if we add 'animals,' similar point, at us is 46 500 000$ more, or in total 212 000 000$ in a year. Our export of new beef makes almost 300 000 000 pounds a year. Almost [206] all it goes to the Great Britain. Our export
Tinned beef runs from 40 000 000 to 60 000 000 pounds a year. Approximately three fifth it go to the Great Britain, the rest going mainly to Germany and other parts of Europe and to the British Africa. We have approximately 50 000 000 horned livestock on our farms and ranch, and our manufacture of beef as is estimated, is a large quantity of 5 400 000 000 pounds in a year which is between one third and one quarter of the full quantity made all over the world. Certainly the most part of it is kept for our own house consumption as we eat more meat in the inhabitant than any other people in the world except Englishmen. In addition to our beef we export approximately 400 000 horned livestock annually, it is more than seven eighth which our other major customers who are West Indies and Canada are taken by the Great Britain. The basic export, however, among our 'conditions' is our products of a hog. We export annually these products of 100 000 000 pounds of pork, 850 000 000 pounds of bacon and , and 700 000 000 pounds of fat, with value, are more than 110 000 000$. As with our products of beef, thus with our products of certainly hog the greatest action goes to the Great Britain. The Great Britain, however, does not import substantially some our pork or our fat. And though she buys from us more than four fifth our full export of bacon and , she does not pay for them so as it does for bacon and Ireland, Denmark, and Canada. The reason for this purpose - that as a rule our bacon fed with grain and a ham - too full-a error which could be easily corrected. After the Great Britain our following best clients for our products of a hog - Germany (mainly in fat), the Netherlands, Sweden, and West Indies (last mainly in pork). We keep the farms from 40 000 000 to 50 000 000 hogs, and the limits of manufacture almost to 4 600 000 000 pounds of pork, bacon, , fat, etc., in a year. The big drawn game [207] back to our industry lifting a pig
Awful plague of a pig which so often devastates our herds of a pig. There was this plague, eradicating full preventive measures, our industry of a pig becomes fast very much and more favourable. The third basic point in our export trade in conditions - 'dairy production.' Our export of oil makes now 30 000 000 pounds a year. Our export of cheese, once is much more, - now approximately 50 000 000 pounds a year. As in our products of beef and in our products of a hog so again in our dairy products the Great Britain - our main client. But our export of oil to the Great Britain - only one twelfth its full import of oil, and our export of cheese to the Great Britain - only approximately one eighth its full import of cheese. Our cheese has let go in the English market because of its relative deterioration, and its export - is no more than half or one third of what it was once. The most part of our oil also does not approach for English taste. But also our cheese and our oil improve now on quality. Our great competitor in export trade in cheese - Canada. Export of Canada of cheese to the Great Britain one fifth makes 15 000 000$ annually, while ours only that quantity. Our great competitor in oil - Denmark. Export of Denmark to the Great Britain makes oils 32 000 000$ while we is no more than one fourteenth that sum. Our competitors in the markets of the Great Britain for horned livestock - Canada and Argentina, but their export together, however, is less than one third of ours. Our competitors in the British markets for meat sale - Mainly concerning to colonies and Argentina, but their basic export while - the cooled mutton, which they send to the Great Britain for the sum of many millions dollars annually (one only Argentina 5 000 000$ in a year, one only New Zealand 10 000 000$ in a year) while our export of mutton - actually a zero. We really, however, export 1 000 000$ [208] value of sheep year, but in this point we are often far exceeded by Canada. Chicago,
Course, great commercial centre of continent for 'conditions' and 'a live stock,' and New York great navigable port. Of all export trade of the whole country New York does two fifth. Baltimore arrives then with approximately one ninth. Then (that) the arrived Philadelphia, Boston, and New Orleans. The main centres of our big condition and livestock trade, except Chicago, Kansas City, Indianapolis, , and Omaha is Cincinnati.
OUR FOREIGN TRANSPORT BUSINESS

If you wish to stop payment of the check which you have let out, you should notify bank at once,

If you wish to stop payment of the check which you have let out, you should notify bank at once, giving the full information.

Paris (2 536 834), of course, the main shopping centre of all France, but trading interests of

Paris (2 536 834), of course, the main shopping centre of all France, but trading interests of Paris is the general, instead of especial. Manufacturing which are most of all localised in Paris, gloves, the freakish equipment, novelties, both luxurious boots and boots are that of articles of luxury, such as jewelry, perfumery. Paris - also the great financial centre. Marseilles (442 000), one of the oldest cities in Europe, is great seaport of France. Its trade makes more than 350 000 000$ annually, and it takes a place then after Hamburg among great seaports of the central Europe. Its speciality - the big trade with the Mediterranean and the East. Opening of Suez canal had uncountable advantage to Marseilles. Then [101] as port shipment arrives Havre (119 000), in a mouth
From , with full trade not far except for that from Marseilles. Havre - actually port or 'shelter' of Paris. It is the big warehouse for the French import from the North America and the South America. They include mainly a clap, tobacco, wheat, an animal make, and a wool. Its import of the South American wool is huge, as three quarters of the wool used in France now, arrive from area of La Plata. Recently Hay it has been deepened, and now both Rouen and Paris it is possible to consider as seaports. It means, that Paris has direct water communications with London, and is, really, third seaport in the country. Then there arrives Bordeaux (257 000), the main place of export for French wines and . Approximately twenty years ago the wine industry of France has transferred huge loss from destructive actions of a grape plant louse of an insect. More than 4 000 000 acres of a vineyard, being of value 1 000 000 000$, have been in full or in part destroyed by this awful wrecker. The plague, however, was eradicated now, but almost 2 000 000 acres of vineyards have been for a long time destroyed and have been devoted a potato and a root of a sugar beet. The result consists that wine manufacture in France - is less now than, that is necessary for house consumption, and more than fifty percent. More fault is imported, than exported. Remaining great navigable ports - Dunkirk (40 000) and Boulogne (37 500). Calais (57 000) have a big passenger trade with England.
[102]
III. TRADING FEATURES OF GERMANY
GERMANY THE MOST SUCCEEDING NATION IN CONTINENTAL EUROPE

To foreign trade of Japan as this of China, agreement ports, 'from which nineteen are allow to be

To foreign trade of Japan as this of China, agreement ports, 'from which nineteen are allow to be continued only in the certain ports named', the head who is Yokohama, Osaka, Nagasaki, Hakodate, Niigata, and . Two basic cities, not agreement ports, are Tokio and Kioto. Tokio (1 300 000) is the capital and the main centre political, commercial, and literary activity of empire. In many respects Tokio - a 'modern' city. Its educational features are excellent. Its clearing also is good. Kioto (340 000) was before the capital, but after revolution 1868, it has been replaced in this respect Tokio. Yokohama (170 000), kept away from eighteen miles Tokio, is the main place of empire for foreign trade. Its foreign trade, really, is more than that half from the whole empire, being approximately 75 000 000$ annually. Osaka (487 000) concerning the population, the second city of empire, but its foreign trade is not big and is continued mainly in Hiogo, port about it. Niigata (50 000) is unique port of the agreement on a West side of Japan, a surf caused by a winter monsoon, doing flat western coast of the country very dangerous to shipment during half of year. Other important ports - (161 000) and Nagasaki (72 000). Nagoya (215 000) is the important internal city.
[157]
IX. TRADING FEATURES OF AFRICA
AFRICA FIFTEEN YEARS AGO

The basic business of Russia - agriculture

The basic business of Russia - agriculture. It is more than one half of its whole domestic trade is agricultural. Its agricultural products one and one half of times, is more than its products and ten times more than its products of a mining industry or its import. And though its manufacture of grain in an acre is the lowest in all Europe except Italy, Spain, both Portugal, and its full manufacture of all food products in an acre certainly lowest in Europe (it is no more than that one third from Spain which is then the lowest), nevertheless to it is possible to export quantity of grain than any other country in Europe, France, only sometimes the excluded. Export of Russia within several past years has averaged grains 266 000 000 in a year. Its export of one only has averaged wheat 94 000 000 in a year, or much more than one fifth full export of wheat of the world. The explanation of this huge export of wheat from so bad country consists that three quarters of people live on a rye. Among peasants the white loaf is actually unknown, and nothing could be more pathetic than firm blocks of a rye which have passed as bread during last hunger. Other agricultural export (besides grain) is flax, hashish, a pie of a seed of olive culture, a linen seed and a grass seed, oil, eggs, a wool, disappear, and bristles of hogs. Wood, wood, and wood also are extensively exported. England - the best client of Russia. The quantity of annual import of England of aforementioned products (including grain) exceeds 112 000 000$.
[124]
MINERAL RICHES OF RUSSIA

Spain, because of a various climate of its several parts, is capable to manufacture almost all

Spain, because of a various climate of its several parts, is capable to manufacture almost all edible fruit and the grains known both moderate and tropical areas. Though there are some areas of desert, the soil most part is strongly productive, and was the agriculture pursued with the same skill as it is in other countries - in England and Scotland as Spain of an example would be one of the richest agricultural areas on globe. But not only that the agriculture is very inefficiently pursued, but also the country also is seldom occupied (only 90 to square mile, in comparison with 270 to square mile in Italy), and only one quarter from this is grown up. As consequence only those products are lifted in Spain in which, because of its advantages of a climate, etc., it has the least quantity of competition. The basic commercial agricultural product - wine, a grapevine which is grown up in each area in kingdom. Six hundred millions gallons of wine are lifted annually which is more in value, than the full quantity of grain has lifted. Only one fifth from this, however, is exported (mainly to France), and even it, the most part - wine of the lowest grade, used to mix up. Remaining agricultural products of the exported Spain are basically oranges, lemons, , raisin, nuts, olives, and onions. From this value for more than 15 000 000$ go to England annually. England and France, really, possess the big most part of foreign trade of Spain, but last years Germany and the United States take the small action of it. The mineral riches of Spain are huge, and as mines the foreign capital often operates, they are worked with energy. The whole eternity iron ore of Basque Provinces of the north and copper ore of area about Cadiz [113] were known. Value for thirty five millions dollars of copper, iron, leadership, silver, and mercury is exported in Big
The Great Britain annually. Is manufacturing of claps, woollens, cloths, and silks, but any of them as cannot speak, is very rich, though within last twenty five years, owing to the high protective tariff, the quantity of the raw materials used in textile manufacturing in Spain, has doubled. Spain makes an excellent wool, but its woollen manufacturing is incapable to use all it, and one quarter is exported. In the same way, though Spain is especially rich with iron areas, it receives approximately one third of hardware which it requires for own consumption from England. The full area of coal fields of Spain is estimated in 5500 miles, but till now a few coal has been extracted, partially because it is a little inaccessible. Value for four million dollars of coal is annually imported from England. The whole mountains of stone salt exist, but is a little extracted, and any is not exported, though the bay salt received in the south, exported to fishermen of Cornwall. Other important export - a grass which send to England which will be used in paper manufacture. And still another - a stopper though Portugal which adjoins Spain, is the main place of the industry making a stopper. Madrid (470 000) is the capital and the greatest city. Barcelona (250 000) is the main seaport of Spain and the main industrial centre. Valencia (145 000), in the southeast, both Seville (135 000) and Malaga (115 000), in the south, is the basic places of export trade in country fruit. At Cadiz (65 000), the basic naval seaport of Spain, is known export trade in sherry wines. The general number of the population of Spain 17 500 000.
Spain was compared in size to California.
[114]
SAD CONDITION OF ITALY

Notice illustrations

Notice illustrations. The notice of the protest to the left of Number 1, 2, and 4 is intended for the bank representing the project for payment. The reason for this purpose will be completely explained in our lesson on a paper to which object. (See XIII.), Number 2 shows the approved project which is subject to payment to the order of bank in a city on which it is delayed. Number 1 is subject to payment to the bank order in a box city. Number 3 is the project of the kind which is subject to payment to the order of bank and accepted subject payment in bank. Number 4 is the urgent bill of exchange which is subject to payment to 'to us is direct' - that is, the Metallurgical company of Pennsylvania.

The South America - huge, but very fertile continent, which natural resources are for the present

The South America - huge, but very fertile continent, which natural resources are for the present hardly begun to be used. Though not so big as the North America, at it is much more the big area of productive soil - and, really, the most part of its soil is rather unsurpassed much. It suffers, however, from two big lacks. 1. The most part of its area (four fifth) is in limits of a hot zone. In low areas of coast of this hot area, and also in the low wood areas irrigated at the big flat rivers of an interior, the climate generally is intolerable by the white. 2. The South America was unsuccessful in the settlement and colonisation. While last years colonisation as it is understood in Anglo-Saxon communities not was it is hardly undertaken in the South America in general. More and more early immigrations from the Old World have been caused by thought on reception gold and silver and jewels - if the requirement was capture of property and enslavery natives. Only the small proportion of the population - is no more than a quarter whole - they consist from white, and mainly of Spain and [178] Portugal. These conquerors of continent basically have not succeeded in establishing or steady forms of the government or
High types of a civilisation. Besides, mixed races - at mestizos or the metis as them name, descendants of earlier Europeans and natives - instead of promoting in a civilisation, are during some time by retrograding. Then, again, there is a big Negro element, descendants of the Africans once imported as slaves, to still complicate further a question on race; also there is a considerable element partially the Negro and partially Indian. Only in one state, Argentina, can affairs how to speak, be really rich, and even in Argentina a civilisation developed by its prosperity, is rough and material, instead of is cleared and intellectual. Following most succeeding and important states - Brazil and Chile. Probably Uruguay though least of all states, should be placed after Argentina. The remaining independent states of reserved Venezuela, Colombia, Ecuador, Peru, Bolivias, also are Paraguay all states of prevailing South American type. Their governments more or are less changeable. They are awfully burdened by a debt, and their credit is that, that they should pay high percent. The civilisation once entered among their native races by eagerness of the Spanish missionaries, worsens, not disappearing. And even among their leading classes is very much that desirable in observance of usual principles to be right and it is wrong.
THE EUROPEAN IMMIGRATION IN THE SOUTH AMERICA

It rather that we followed lessons on a clearing house and commercial projects with a lesson on a

It rather that we followed lessons on a clearing house and commercial projects with a lesson on a foreign currency.

[7]

The example resulted below displays badly written check and what could be very easily lifted
[7]
The example resulted below displays badly written check and what could be very easily lifted. The roguish receiver could, for example write, 'ninety' before 'six' and '9' before number '6', and thus to lift the check from 6$ to 96$. If it has been made, and the check on money the manufacturer, instead of the bank, would become responsible for loss. You cannot consider other people responsible for your own negligence. The check has been lifted from 100$ to 190$ by the letter of words 'and ninety' after words 'hundred.' One of code numbers in numbers has been changed on '9', adding a tail to it. Wisely to pull a running line, thus ~~~~~~, after quantity in words, thus preventing any additional letter.
Badly delayed check.

Banks of this country do by a rule not to exchange for money the check, which will delay subject to

Banks of this country do by a rule not to exchange for money the check, which will delay subject to payment to order if the person representing the check, is not known in bank - or if it satisfies the paying cashier, that it - really person to whom money should be paid. It it is necessary to remember, however, that the check delayed to order and then confirmed in the form the addressee of payment, is really the check payable to bearer and if the paying cashier is satisfied, that the signature of the addressee of payment original it it will not be probable to be confused to exchange for money the check. In England all checks obviously properly confirmed, are paid without identification. In drawing of the check in favour of the person hardly to be known in bank circles, write its address or its business after its name on the person of the check. For example, if you send the check to John Smith, Boston, it can probably fall in wrong John"s Smith hands; But if you write the check to advantage 'John Smith, 849 Streets Tremont, Boston,' more than possibly, that the correct person will collect it. If you wish to exchange the check where you are unknown for money, and it is not convenient for the friend, which has a bank account to go with you for [243] purpose of identification, ask, that it has placed the signature in
Back your check and it is probable, that you will not have a trouble in reception, it exchanged for money. Placing its signature in the end of the check he guarantees to bank against loss. The bank is responsible for signatures of its investors, but he as it can be assumed, does not know the signature indorsers. The reliable identifier - actually the person who is responsible.
CHECKS IN THE SPECIAL PURPOSES

Dealers sell very many of their notes in the open market that is, to note brokers

Dealers sell very many of their notes in the open market that is, to note brokers. Banks buy these notes from brokers of the note. The help of the broker which addresses with the bill, is the necessary and valuable help to purchasing bank. Completely three quarters of all paper bought by banks in the big cities, are bought under the simple recommendation of brokers of the note. As a rule these brokers simply transfer a paper, not guaranteeing its payment. The notes bought by banks from brokers of the note without them as it is considered, as, they guarantee, will be as it should be in all points except that which covers a question of, whether will pay it or not. The bank uses the best judgement in risking. If the dealer of the note on sale of notes to bank does to what he trusts to be fair and fair representations concerning any specific paper statements of such direct type, that on them no charge of false excuses can be made to have a rest - it simply guarantees the note, original concerning names, date, quantity, etc., and that on sale of it it transfers the good name to a paper. As business men, however, they are very cautious and extremely worry, that a paper which they sell, should be paid, and as a rule they do good any losses which grow from obvious distortions on their part.
NORMS OF BANKERS FOR LOANS

The general papers of transportation familiar to all consignors, (1) navigable receipt, (2)

The general papers of transportation familiar to all consignors, (1) navigable receipt, (2) waybill, (3) waybill.

Concealing from the business men respecting their financial position, can seriously weaken their

Concealing from the business men respecting their financial position, can seriously weaken their credit. It is universally regarded by the intellectual businessman to be a good policy, to inform its condition. Refusal to make so throws suspicion and doubt on its financial [256] ability, and during some future time
When the confidence of its integrity can be essential by the life of its business, it can find the necessary help inaccessible. The applicant for the credit should wish to appear worthy it. But sharp competition among the dealers aspiring to sales is frequent, allows the buyer to receive the credit without requirement of a giving very much a testimony concerning its commercial position. As a few risks should be on itself, dealers often conclude to accept the account because of its possible acceptance by some competitor. If business be available risks, should be, the theory.

The paper offered for the discount, has set of kinds

The paper offered for the discount, has set of kinds. The big proportion of it from clients of the borrower who have expanded their credit, paying in their account in notes instead of in cash. Such paper really though having two names, it is little bit better than [51] paper of the unique name as it not the manufacturer
The credit, but the addressee of payment who usually considers bank. Many very small notes offered for the discount usually, specify very requiring condition.

The railway card of the United States shows, that the majority of parts of our country has densely

The railway card of the United States shows, that the majority of parts of our country has densely weaved network of railways. Distance of our lines of the railway - now 184 000 miles, actual length of a trace on these roads which are approximately of 245 000 miles. Value of these big numbers becomes a declaration considerable quantity when comparison is made between length of our railways and length of that of Europe and that of the world. Railways in the United States include more than four ninth full railway distance of the world, and are much longer than railways of all countries of incorporated Europe. Graphically following diagramme shows the facts:

Dealers sell very many of their notes in the open market that is, to note brokers

Dealers sell very many of their notes in the open market that is, to note brokers. Banks buy these notes from brokers of the note. The help of the broker which addresses with the bill, is the necessary and valuable help to purchasing bank. Completely three quarters of all paper bought by banks in the big cities, are bought under the simple recommendation of brokers of the note. As a rule these brokers simply transfer a paper, not guaranteeing its payment. The notes bought by banks from brokers of the note without them as it is considered, as, they guarantee, will be as it should be in all points except that which covers a question of, whether will pay it or not. The bank uses the best judgement in risking. If the dealer of the note on sale of notes to bank does to what he trusts to be fair and fair representations concerning any specific paper statements of such direct type, that on them no charge of false excuses can be made to have a rest - it simply guarantees the note, original concerning names, date, quantity, etc., and that on sale of it it transfers the good name to a paper. As business men, however, they are very cautious and extremely worry, that a paper which they sell, should be paid, and as a rule they do good any losses which grow from obvious distortions on their part.
NORMS OF BANKERS FOR LOANS